Kraken Robotics (OTCMKTS:KRKNF) Shares Gap Down – Here’s What Happened

Kraken Robotics Inc. (OTCMKTS:KRKNF) shares gapped down before the market opened on Thursday . The stock had previously closed at $5.1155, but opened at $4.89. Kraken Robotics shares last traded at $4.9465, with a volume of 115,554 shares trading hands.

Analyst Upgrades and Downgrades

KRKNF has been the topic of several recent research reports. Desjardins raised shares of Kraken Robotics to a “moderate buy” rating in a research report on Thursday, March 12th. ATB Cormark Capital Markets lowered shares of Kraken Robotics from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 12th. Zacks Research raised shares of Kraken Robotics to a “hold” rating in a research report on Friday, March 13th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Kraken Robotics in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Kraken Robotics Trading Up 2.5%

The firm has a fifty day simple moving average of $5.72 and a 200 day simple moving average of $5.61.

Kraken Robotics (OTCMKTS:KRKNF) last announced its quarterly earnings results on Thursday, May 28th. The company reported ($0.01) EPS for the quarter. The business had revenue of $15.60 million during the quarter, compared to the consensus estimate of $18.30 million.

About Kraken Robotics

Kraken Robotics Ltd. is a marine technology company headquartered in St. John’s, Newfoundland and Labrador, Canada. The company specializes in the design, development and manufacture of advanced underwater robotic platforms and sensor systems. Kraken’s solutions are built to support a range of subsea activities, from high-resolution seabed mapping and inspection to autonomous data collection and remote operations.

Kraken’s product suite includes synthetic aperture sonar, side-scan and interferometric sonar arrays, laser imaging systems, and acoustic ranging sensors, as well as autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs).